Home to Loan

Morgan Stanley must review foreclosures that took place in 2009 and 2010 and reimburse borrowers who were victims of its illegal foreclosure practices — or so the Fed says. The Fed issued a consent order against Morgan Stanley “to address a pattern of misdemeanors and negligence in residential mortgage loan servicing and foreclosure processing” at [...]

It’s often said that the rich are different, but maybe not in the way you’d reflect. They’re suffering foreclosures at a quicker clip than the rest of the nation, even though more of them can meet the expense of to pay their mortgage. Reuters  news agency compiled figures from RealtyTrac and found that 180 homes [...]

The percentage of delinquent mortgages declined and fewer loans were in foreclosure in the last quarter of 2011, says the Mortgage Bankers Association. About 7.58 percent of outstanding mortgages were past due in the fourth quarter, a decline of 41 basis points on the seasonally adjusted delinquent rate. When compared to the initially quarter of [...]

The percentage of delinquent mortgages declined and fewer loans were in foreclosure in the last quarter of 2011, says the Mortgage Bankers Association. About 7.58 percent of outstanding mortgages were past due in the fourth quarter, a decline of 41 basis points on the seasonally adjusted delinquent rate. When compared to the initially quarter of [...]

Members of the military who were victims of wrongful foreclosures will receive substantial compensation from their mortgage servicers. The U.S. Department of Justice has reached an agreement with four large lenders — JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — to provide “any service member who was a victim of a wrongful foreclosure a [...]

From the weird-but-right files: Struggling homeowners can find mortgage relief by allowing their home to be turned into a giant billboard. Apparently, 38,000 people are desperate or creative enough to submit their homes as potential advertisements to the marketing company behind this thought, Brainiacs from Mars. The initiator of the company, Romeo Mendoza, told Reuters [...]